Mariner snaps up New York advisory firm with $780M in assets

Deal brings the firm's assets under management to $8.2 billion

By Trevor Hunnicutt

Dec 3, 2013 @ 12:58 pm (Updated 3:36 pm) EST

advisory, merger, acquisition

Mariner Wealth Advisors has acquired a New York City-based financial advisory firm that manages $780 million for clients, a spokeswoman for the firm said on Monday.

The deal to join forces with the 20-person staff at RR Advisory Group is a coup for Leawood, Kan.-based Mariner, a national, independent advisory firm that has grown by gobbling up smaller firms.

The addition increases Mariner's assets under management, which now stand at $8.2 billion, by more than 10%, according to spokeswoman Elaina Boudreau.

Terms of the deal were not disclosed.